Treasury Secretary Scott Bessant lifted US sanctions on the export and purchase of Iranian oil, including payments directly to Iran in hard currency. That is what we can say with certainty. It seems like Trump just wants to get out of Iran.
The Treasury Secretary said, “Under President @realDonaldTrump and @VP, we continue to make the world safer and more prosperous. In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency (IAEA) inspectors into their country.
“As part of the framework, Treasury has issued a temporary 60-day general license authorizing the production, delivery, and sale of Iranian oil, Bessent wrote on X.
Under President @realDonaldTrump and @VP, we continue to make the world safer and more prosperous.
In line with the ongoing productive talks in Switzerland, Iran has committed to free and open transit in the Strait of Hormuz and to permit International Atomic Energy Agency…
— Treasury Secretary Scott Bessent (@SecScottBessent) June 22, 2026
The U.S. Lifted the Blockade
According to CNBC, the authorization allows the import of Iranian oil and refined products into the U.S. Payment can be made to Tehran in dollars. The license expires Aug. 21, unless it’s renewed.
Vice President JD Vance said earlier Monday that “great progress” was made during the talks in Switzerland, despite Iran’s declaration over the weekend that it had closed the Strait of Hormuz.
U.S. Central Command said Hormuz had not been closed. Vance said Iran agreed to allow weapons inspectors from the International Atomic Energy Agency back into the Islamic Republic, while Bessent said Tehran had also committed to free and open transit through Hormuz.
The U.S. Navy last Thursday lifted its blockade of Iran’s ports and coastal areas. Iranian supertankers have switched on their transponders, after going dark during the war, as they depart the Persian Gulf loaded with oil.
Iran typically loaded more than 1.5 million barrels per day for export before the U.S. imposed its blockade in April, with most of that oil going to China. Loadings declined to just 260,000 bpd in May as the blockade took hold.
Most people don’t see peace with Iran attainable. Since the deal was first announced, Iran has stepped up their executions of their own people.
Look how these aholes treat JD. The Qatar dude totally dissed him.
I’m so done with these people. There will never be peace with these Islamoterrorists.
Get on a plane and come home, @JDVance! pic.twitter.com/qkb7eEsx3b
— Buzz Patterson (@BuzzPatterson) June 21, 2026
